Boost for Uganda financial inclusion targets

KAMPALA, (CAJ News) – UGANDA’S prospects of financial inclusion through innovation have received a boost after a key partnership between Mastercard and Orient Bank.
They have teamed up to expand the acceptance of payment cards at automated teller machines and point-of-sale terminals.
The collaborative effort will see the acceptance of payment cards in 23 ATM locations and 200 POS terminals in the country effective immediately.
The partnership is in line with Bank of Uganda’s Strategic Plan 2012 to 2017 to improve financial inclusion through technology.
Chris Bwakira, Vice President and Area Business Head for East Africa, Mastercard says the focus on acceptance and easy-to-access solutions is key to driving inclusion.
“Uganda is of immense strategic importance to Mastercard and we will continue to invest in infrastructure to enable safe and secure payment options,” says Bwakira.
Mastercard is accepted in 51 of 54 markets on the continent.
Julius Kakeeto, Orient Bank Managing Director, says the partnership with Mastercard will enable the bank will drive for financial inclusion and economic well-being across Uganda.
“As the needs of our customers change, we are adapting through innovation and partnerships such as the one with Mastercard to provide them with convenient services,” adds Kakeeto.
– CAJ News